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Savings from subsidy removal will benefit many Nigerians – Tinubu

On May 29, Tinubu, while delivering his inaugural speech, announced the removal of the petrol subsidy.



President Bola Tinubu says the savings realised from the removal of the petrol subsidy will benefit many Nigerians.

On May 29, Tinubu, while delivering his inaugural speech, announced the removal of the petrol subsidy.

Since the announcement, the price of petrol has skyrocketed to above N500 per litre — a development that has sparked a hike in transport fares and prices of goods and services across the country.

However, there have been clamours for the provision of palliatives to Nigerians to cushion the effects of the subsidy removal.

Speaking during a meeting with former governors known as the “class of 1999”, Tinubu said he understands that Nigerians are suffering owing to the policy.

The president said the policy will benefit many Nigerians instead of a few smugglers.

He appealed to Nigerians to be patient for the delivery of the palliatives, which will serve as a relief.

“On the subsidy removal, I thank you for the support and I understand people are suffering. Yet, there can be no childbirth without pain,” he said.

“The joy of childbirth is the big relief of the pain. Nigeria is reborn. It is a rebirth of our country.

“To face our problem, to bring the savings to benefit the largest number of people in the country and not a few smugglers and exploiters. Thank you for your support.”

Speaking to journalists after the meeting, Lucky Igbinedion, the chairperson of the class of 1999 governors, asked Nigerians to trust the president on the palliatives to be provided.

The former Edo governor said the president must be given the necessary support to foster a better Nigeria.

“We came to congratulate Mr President and also to thank him for making one of us the secretary to the government,” he said.

“We came to assure him that he has our full support and prayers for the bold steps he has started to take, for his initiatives and also let him know that this is beyond party politics, we’re now talking about the project Nigeria.

“Therefore all hands must be on deck to give Mr President the needed support and encouragement to foster a better nation.

“On his part, Mr President assured us that it is his dream to see a better Nigeria and he also wants us to let you know that the decisions that he has taken so far might be painful.

“Therefore, Nigerians should wait patiently and believe in him, that he’s going to come up with palliatives that will put smiles on the faces of every one of us in Nigeria.”

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